The Role of the Parties

The Role of the Parties
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Obligation of the Insurer

To INDEMNIFY you for losses which have occurred, and that are specifically covered under the terms and conditions of the respective policies of insurance. Such payments must be made within a reasonable time frame.

Obligation of the Insured

The following are to be adopted for all situations, which may give rise to a possible claim:

Take all steps to minimize loss – Reasonable steps and measures to reduce the
effects of a loss must be taken.

Report the occurrence immediately to Agostini Insurance Brokers Limited – It is not necessary for you to await details of the incident before notifying us.

Co-operate with your Insurer or their appointed representative – Answer all questions regarding the facts and circumstances of loss. It is important to have a positive work relationship, as it is in your best interest to help us provide the best possible service, which you deserve.

Document precisely the cause and extent of loss – Causes of loss are not always readily identifiable. In some circumstances it is necessary for you to prove that the cause of loss falls within the scope of your policy coverage. It is therefore important to document details that may not be apparent when investigations are carried out.

Obligation of the Broker

To co-ordinate the smooth and efficient processing of all claims, thereby minimizing the traumatic effects of a fortuitous loss to you, the Insured.

To ensure that all claims are settled within a reasonable time frame and that settlement is fair and just to all concerned.

In the unlikely event of a dispute with regard to the claim settlement amount, to assist with the appointment of an agreed Arbitrator.

To analyze loss data with a view to future loss reduction or elimination. This will be of great short and long term benefit for you as it further increases our ability to design an Insurance and Risk Management programme that best suits your financial situation.

To ensure that your programme is placed and maintained with sound security thus eliminating unnecessary delays for settlement.

Obligation of the Loss Adjuster

The Loss Adjuster, although appointed by the Insurer, is an independent party. In his professional capacity, he is expected to make expert recommendations to Insurers based upon the facts of the particular matter.The utilization of the Loss Adjuster also serves to remove the impression of any bias on the part of the Insurers.It should be noted that Insurers have no obligation whatsoever to accept the recommendations of the Loss Adjuster.

STANDARD CLAIMS PROCEDURE

METHODS OF SETTLEMENT

IN THE EVENT OF A LOSS